No $6M Bonus For Adequate Job: Calpine U.S. Trustee

Law360, New York (March 18, 2008, 12:00 AM EDT) -- The U.S. trustee in Calpine Corp.'s Chapter 11 case has objected to a $6 million bonus for crisis-management company AP Services LLC, arguing that the company has not demonstrated that it deserves a bonus for its work.

AP Services is already seeking a final award of more than $46 million in fees for its role in Calpine's bankruptcy. It argued that a fee retention order in January 2007 provided that it was entitled to an additional emergence incentive bonus of $6 million if the adjusted enterprise...
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